Indus Motor Company Limited, the maker of Toyota and Daihatsu wheels in Pakistan, has informed its stakeholders of a temporary shutdown of its production plant.
The company said in a notice to the Pakistan Stock Exchange (PSX) that it was facing a critically low level of vehicle inventory and a dire shortage of parts and components necessary for manufacturing, attributing these issues to broader supply chain disruptions.
The planned closure will span from March 6 to March 11, 2024 (both days inclusive).
This decision aligns with the company’s obligations under Sections 96 and 131 of the Securities Act 2015, as well as Clause 5.6.1 (a) of the PSX Regulations, ensuring that material information is disclosed to the relevant parties in a timely fashion.
